December 18, 2024 11:58 am
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Rose Law Group

‎New industry term you need to know “LOWOT”

LOWOT

LOWOTby Rose Law Group Founder and President Jordan Rose

Of course you know about the LOI (letter of intent), but are you on the inside of deals enough to know about the new term being used by the most savvy Arizona Dealmakers – the LOWOT (letter of waste of time)?   This is a post economic chaos term which defines the new LOI. The LOWOT is provided to a seller and is truly a waste of time because it either (1) comes nowhere near meeting the seller’s expectation of price ‎as seller does not appear to recognize the market has big-time stalled on appreciation and/or (2) meets seller’s expectation but has no reasonable ability to ever be approved by buyer’s corporate office in the end as there is no way to underwrite it. So write us a comment below and let us know if you’ve either made or been the recipient of a LOWOT lately. We bet you have…or will be soon!

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.